Independent Standard-Setting Boards

The International Auditing and Assurance Standards Board sets high-quality international standards for auditing, assurance, and quality control that strengthen public confidence in the global profession.

The International Accounting Education Standards Board establishes standards, in the area of professional accounting education, that prescribe technical competence and professional skills, values, ethics, and attitudes.

The International Public Sector Accounting Standards Board develops standards, guidance, and resources for use by public sector entities around the world for preparation of general purpose financial statements.

Written by Dan Montgomery, the former deputy chairman of the IAASB and the chair of the Auditor Reporting Implementation Working Group, this article explores the nine most common questions asked by audit committee members and finance executives about the new and enhanced auditor’s reports.

The effective date for the new and revised Auditor Reporting standards is December 15, 2016.

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